Lucapa Diamond Company has successfully completed the sale of three remarkable diamonds recovered from its Lulo mine in Angola, fetching a total of $10.5 million at tender. Conducted by Sodiam in Luanda, the tender concluded on April 19, showcasing three Type IIa white diamonds weighing 203 carats, 116 carats, and 43 carats. This marked Lucapa’s first tender of Lulo diamonds for the year. The combined weight of the diamonds amounted to 361 carats, achieving an
Gem Diamonds, a London-listed company, has announced the discovery of a remarkable 169.15 carat Type II white diamond from its Letšeng mine in Lesotho. This significant find marks the fourth diamond weighing over 100 carats that Gem has recovered so far this year. Prior notable discoveries include a 113 carat white Type II diamond, a 295 carat white Type II diamond, and a 139 carat Boart diamond. The Letšeng mine has gained renown for its
Australian oil and gas giant Santos reported a decline in first-quarter revenue by approximately 14% on Thursday, attributing the decrease to reduced production levels and lower volumes across its product range. Various factors, including severe weather conditions and planned maintenance activities, hampered production during the quarter. Additionally, sales revenue was impacted primarily by decreased liquefied natural gas (LNG) and ethane volumes, albeit partially offset by higher realised prices. Santos produced 21.8 million barrels of oil
Custos, a prominent player in the energy sector, recently announced a groundbreaking discovery at the Mopane complex in the Orange Basin. Initial estimates suggest that the complex harbors over 10 billion barrels of oil equivalent, marking a significant milestone in the region’s oil exploration efforts. Situated within the PEL 83 blocks on blocks 2813A and 2814B, the Mopane complex is a joint venture project involving Galp Energia’s subsidiary and Custos, with Namcor holding a stake
The construction of the Gold Refinery in Luanda, spearheaded by GeoAngol, a subsidiary of Endiama, received significant attention on Thursday, highlighted as a priority action by the Angolan Executive for the Mining Sector, as declared by Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo. Speaking at the opening of a seminar on “Mineral Resources and the Gold Mineral Value Chain in Angola” in Huambo, Azevedo emphasized the importance of refining gold locally to add
The Gold Refinery project in the municipality of Viana, Luanda, is on track for completion, with expectations of inauguration in the first half of 2025, announced Domingos Baptista, the general director of Geoangol. Speaking at the Workshop on Mineral Resources and the Gold Value Chain in Huambo province, Baptista stated that the construction progress stands at 50%, with anticipation for completion by the end of the year. Baptista emphasized that the refinery project involves 23
The Geological Institute of Angola (IGEO) is set to enhance its geological studies across the country, thanks to a generous non-refundable financial aid of three million dollars from Japan. The announcement was made by the Secretary of State for International Cooperation and Angolan Communities during the signing ceremony of the Exchange of Notes on the Implementation of the Economic and Social Development Program in Mineral Resources. The aid, part of the Cooperation Protocol between IGEO
The National Diamond Trading Company of Angola (SODIAM) raised, this Friday 19th April, 17 million dollars with the sale of 636.28 carats (auction of 20 special stones). According to a press release, these are rough diamond productions from the Mining Companies of LULO SOMILUANA, CHITOTOLO, UARI and KAIXEPA. The evaluation sessions took place from the 11th to the 18th of this month, at SODIAM’s facilities in Luanda, with bids being submitted electronically on the online
Proceeds at De Beers’ third rough-sales cycle of the year remained sluggish compared to a year earlier but continued to see improvement despite entering a traditionally slow period for the industry. The miner brought in $445 million in April, down 18% versus the equivalent period in 2023, it said Wednesday. However, that figure is 3% higher than the $431 million the company reported at its second sight of the year, which ran from February 26 to March
Petra Diamonds’ rough prices decreased at its latest tender, as smaller goods experienced seasonal weakness. The fifth trading session, which took place in April, brought in $49 million from the sale of 362,132 carats, while like-for-like prices slipped 1% versus February, the miner reported Tuesday. Of the total, $8.2 million came from the sale of a 14.76-carat, blue diamond from the Cullinan mine in South Africa. The sales value was up 3% from February’s $48 million and
